Double Unit Garage Warehouse
For Sale
$2,300,000
7210 Haverhill Business Parkway #31 & 32, Riviera Beach, FL 33407
Fully renovated double unit with insulated, motorized hurricane-rated garage doors, a private bathroom, and 20' clear height.
Property Size3,013 SF
Price / SF$766.67
Days on Market54
Property Features for 7210 Haverhill Business Parkway #31 & 32
General Information
Standard status
Active
Size
3,013 SF
Total Parking Spaces
16
Zoning
industrial
Additional Details
Fenced Yard
Yes
Clear Height
20 ft
Taxes and HOA fees
Annual Taxes
$21,275
Building Details
Building Size
3,013 SF
Year Built
2019
Stories
1
Listing Agency:
Sutter & Nugent LLC
(561) 818-8325
Listed By:
James Pavlik · License #3301117
(561) 818-8325
Source:
Laerrealty
Added: Jul 7
Changed: Aug 26
Last Checked: Aug 29 at 6:10AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Sutter & Nugent LLC
Investment Insights
Based on property information with market context.
This double-unit hangar condominium has been fully renovated and finished for both storage and use. Interiors include custom cabinetry, a designer epoxy floor finish, TVs, a custom full bathroom, and an upstairs mezzanine with wood flooring. A custom spiral staircase and railing provide access to the mezzanine level. Construction features solid concrete tilt-wall with an insulated roof, doors, and walls, and the space is equipped with individual temperature and humidity control. The unit offers 14' x 14' sealed, insulated, Miami-Dade hurricane-rated, motorized coiling garage doors, along with clear interior ceiling heights up to 20'.
The grounds are gated and secured with a 7' tall privacy fence, round-the-clock live security monitoring, and an on-site owner-concierge. Ownership includes an undivided interest in the common elements within the facility, and ownership opportunities are limited. The Hangar is designed as a garage condominium environment intended for owners to store, display, and enjoy prized collectible assets.
For buyers seeking a private, secure, fully improved garage-style warehouse space, this offering provides a finished interior with dedicated climate control, a mezzanine for additional flexible use, and a high-clearance storage volume supported by insulated, hurricane-rated door infrastructure. The double-unit configuration is well suited for larger collections that benefit from expanded capacity and dedicated, finished areas for display and everyday enjoyment.
The grounds are gated and secured with a 7' tall privacy fence, round-the-clock live security monitoring, and an on-site owner-concierge. Ownership includes an undivided interest in the common elements within the facility, and ownership opportunities are limited. The Hangar is designed as a garage condominium environment intended for owners to store, display, and enjoy prized collectible assets.
For buyers seeking a private, secure, fully improved garage-style warehouse space, this offering provides a finished interior with dedicated climate control, a mezzanine for additional flexible use, and a high-clearance storage volume supported by insulated, hurricane-rated door infrastructure. The double-unit configuration is well suited for larger collections that benefit from expanded capacity and dedicated, finished areas for display and everyday enjoyment.
Key Highlights
- 2019 year‑built double hangar unit with a custom full bathroom and an upstairs mezzanine
- Fully renovated interior with all custom cabinetry and a designer epoxy floor finish
- 14' x 14' sealed, insulated, Miami‑Dade hurricane‑rated motorized coiling garage doors
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$65,988
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,319,760
$1.3M
Cap Rate 7%
$942,686
$942.7K
Cap Rate 9%
$733,200
$733.2K
Market Conditions
NOI Build-Up for 3,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$108.0K $36.00/SF
− Vacancy
−$6.5K −$2.16/SF
EGI
$101.5K $33.84/SF
− OpEx
−$35.5K −$11.84/SF
NOI
$66.0K $22.00/SF
Area
Palm Beach County, FL
Vacancy
6.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,319,760
Cap Rate 7%
$942,686
Cap Rate 9%
$733,200
Alternative Uses
Best Use
Flex RnD
$942.7K
$824.9K – $1.10M
NOI $65,988 @ 7.0% cap · market cap 2.87%
Second Best
Industrial
$462.7K
$404.8K – $539.8K
NOI $32,387 @ 7.0% cap · market cap 1.41%
Theoretical Best
Office A
$2.11M
$1.85M – $2.46M
NOI $147,894 @ 7.0% cap · market cap 6.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20 ft
Clear height
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,737
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33407, FL
34,558
Population
15,147
Households
2.3
Avg Household Size
35
Median Age
26%
College-Educated
78%
High-School Grad
9.9 sq mi
ZIP Area
3,491
Density / Sq Mi
$56,606
Median Household Income
$34,886
Median Earnings
$1,551
Median Rent
$290,500
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Fully renovated double unit with insulated, motorized hurricane-rated garage doors, a private bathroom, and 20' clear height.
Where is this flex space located?
The property is located at 7210 Haverhill Business Parkway #31 & 32 Riviera Beach, FL.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 2019 year‑built double hangar unit with a custom full bathroom and an upstairs mezzanine; Fully renovated interior with all custom cabinetry and a designer epoxy floor finish; 14' x 14' sealed, insulated, Miami‑Dade hurricane‑rated motorized coiling garage doors
